Post-Election Reflections

The morning after the election, we wrote that we expected the surprising victory by Donald Trump would likely result in increasing volatility for capital markets as investors absorbed unanticipated change and uncertainty with regards to the new administration.

While we can claim partial accuracy on this prediction (see Fixed Income and Emerging Markets), with a few exceptions global equity markets have moved higher in the aftermath of the election as markets have focused on the pro-growth aspects of a Trump presidency. Interestingly, the markets appear to be acting with great clarity with respect to the likely impact of anticipated policies coming out of Washington while we would argue that the outlook remains relatively opaque as the formation and implementation of the policy agenda continues to evolve. Our thoughts below address four policy areas with respect to the impact of potential policy shifts on the economy and financial markets.


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Heritage Wealth Advisors is an SEC-registered investment advisor. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this article serves as the receipt of, or as a substitute for, personalized investment advice from Heritage. Heritage is neither a law firm, nor a certified public accounting firm, and no portion of the newsletter content should be construed as legal or accounting advice. A copy of Heritage’s current written disclosure Brochure discussing our advisory services and fees continues to remain available upon request or at

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